Non-Fungible Token Market: Growing Use of NFT for Domain Name Ownership | Emerging research
Rising popularity of metaverse and rising demand for decentralized marketplaces are key factors driving the market revenue growth
— Emerging research
VANCOUER, BC, CANADA, June 28, 2022 /EINPresswire.com/ — The global non-fungible token (NFT) market size reached USD 50.10 billion in 2021 and is expected to register a CAGR of 10.7% during the forecast period, according to the latest analysis from Emergen Research. The rapid traction of the metaverse and growing demand for decentralized marketplaces are some of the key factors driving the revenue growth of the global non-fungible tokens market. The growing use of NFT for domain name ownership is also expected to significantly boost market revenue growth. Blockchain domain owners can use private keys to manage the respective domains. The Domain Name Service (DNS) standard is controlled by the Internet Corporation for Assigned Names and Numbers (ICANN), and oversight of these domains is very minimal.
The report also offers an insight into the business sphere with respect to the impact of the COVID-19 pandemic on the industry. The pandemic has changed the dynamics of the non-fungible token market by affecting global supply chains and financial scenarios. Although affected by the pandemic, the market is expected to regain momentum in the coming years. The report further examines in detail the overall impact of the pandemic on the Non-Fungible Tokens market and its key segments.
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The research study offers a decisive view of the global Non-fungible Tokens market through its in-depth segmentation based on types, applications, and regions. The Non-fungible Tokens market segments have been analyzed based on historical data and current scenario to offer an accurate overview of the market outlook. The report segments the global non-fungible tokens market into:
Based on type:
Type Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
computer generated painting
2D/3D computer graphics
Trading Card Game (TCG)
Strategy role-playing game (RPG)
Ownership of assets
End-Use Outlook (Revenue, USD Billion; 2019-2030)
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The research report covers an in-depth assessment of key strategies and plans undertaken by leading market competitors. It provides a comprehensive overview of companies’ financial overview, business strategies, expansion plans, research and development activities and their product portfolio. It also highlights mergers and acquisitions, joint ventures, collaborations and the latest technological developments. The report offers comprehensive SWOT analysis and Porter’s Five Forces analysis to better understand the competitive landscape and analyze each player’s growth scope.
Leading companies profiled in the report are:
YellowHeart, Cloudflare, Inc., PLBY Group, Inc., Dolphin Entertainment, Inc., Funko Inc., OpenSea (Ozone Networks, Inc.), Takung Art Co., Ltd., Dapper Labs, Inc., Nifty Gateway (Gemini Trust Company, LLC) and MakersPlace (Onchain Labs, Inc.)
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The report provides an in-depth analysis of the global Non-Fungible Token market with respect to its growth opportunity, production & consumption ratio, supply & demand, and export & import ratio. The market report offers key statistical data in the major regions of the global Non-fungible Token Market. The regional segment of the report covers the analysis of key geographical regions, such as:
North America (United States, Canada, Mexico)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, rest of LATAM)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries, and helping customers make smarter business decisions. We offer market intelligence research ensuring relevant and factual research across multiple sectors including health, touchpoints, chemicals, types and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Emergen Research has a strong base of experienced analysts from a variety of areas of expertise. Our industry experience and ability to develop a workable solution to any research problem gives our clients the ability to secure an edge over their respective competitors.
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